The Wissahickon Mills Foundation is approved by the IRS as a 501(c)(3) public charity, and donors are eligible for tax benefits. These benefits changed recently, and we believe that most donors will find good news in the changes.

Important Tax News for Wissahickon Mills Foundation Donors

Quick Guide: Know Which Section Applies to You

Are you a non-itemizer (taking the standard deduction)? Starting in 2026, you'll get a new tax benefit for donating to WMF—even while taking the standard deduction. Read the "Non-Itemizers' Good News" section below.

Are you an itemizer or have a complex financial situation? New tax law changes may affect your situation differently in 2026. Read the "Donors Who Already Itemize" section and consider consulting with your tax advisor.

Non-Itemizers' Good News: A New Tax Benefit Begins in 2026

Starting January 1, 2026, federal tax law will introduce a significant benefit for donors who take the standard deduction rather than itemizing. This change will positively affect approximately 90% of American taxpayers—the vast majority of individual donors who currently receive no tax benefit for their charitable giving.

Here's what's changing: Beginning with your 2026 tax return, if you take the standard deduction, you'll be able to claim an additional deduction for cash donations to qualified 501(c)(3) public charities like the Wissahickon Mills Foundation:

• $1,000 for single filers
• $2,000 for married couples filing jointly

This new provision is permanent and represents a meaningful improvement in how the tax code recognizes charitable giving by everyday Americans.

Who Benefits from This Change?

This benefit is designed for the overwhelming majority of Americans who take the standard deduction. After the 2017 Tax Cuts and Jobs Act increased the standard deduction, the number of people itemizing dropped dramatically. Many middle-income donors who previously itemized switched to the standard deduction because it became more financially advantageous.

If you stopped itemizing after 2017, or if you've never itemized your deductions, this new benefit is designed with you in mind. You'll now receive tax recognition for your charitable donations without the complexity of itemizing.

WMF Qualifies for This New Benefit

The Wissahickon Mills Foundation, as a 501(c)(3) public charity, fully qualifies for this new deduction. When you make a cash donation to WMF in 2026 or beyond, it will be eligible for this tax benefit—up to the annual limits of $1,000 or $2,000 depending on your filing status.

Important note: Not all charitable organizations qualify for this new provision. Contributions to donor-advised funds, supporting organizations, and private foundations do not qualify. But donations to WMF do.

Our Fundraising Drive: November 2025 Through February 2026

Our four-month fundraising campaign spans both tax years, running from November 2025 through February 2026. We want you to have complete information as you consider your giving:

Donations made in 2025 (through December 31, 2025) will be reported on your 2025 tax return. Under current law, these donations are tax-deductible only if you itemize your deductions.

Donations made in 2026 (starting January 1, 2026) will be reported on your 2026 tax return, filed in early 2027. These donations will be eligible for the new above-the-line deduction, even if you take the standard deduction.

Why We're Telling You This Now

We recognize that some donors may choose to wait until January 2026 to take advantage of the new tax benefit. That's perfectly understandable, and we want you to make informed decisions about your charitable giving. The Wissahickon Mills Foundation values long-term relationships with our supporters built on transparency and trust.

While tax benefits are valuable, we also know that most of our donors give primarily because they believe in our mission and the work we do in the community. Whether you choose to give in 2025 or 2026, your contribution makes a meaningful difference and helps us fulfill our charitable purpose.

Donors Who Already Itemize or Have Complex Financial Situations

Some of our donors have more complex financial situations, including those who:

• Already itemize their deductions
• Make larger charitable contributions
• Give through donor-advised funds
• Have significant investment or retirement assets

If this describes your situation, the 2026 tax changes may affect you differently. New limitations will apply to itemized charitable deductions. Given the complexity of these changes, we strongly encourage you to consult with your qualified tax advisor, CPA, or financial planner to understand how the new law affects your specific circumstances and to explore sophisticated giving strategies that may be available to you.

The Foundation cannot and does not provide tax advice for complex financial situations. Your professional advisors are best equipped to help you maximize both your charitable impact and your tax benefits.

Our Commitment to You

The Wissahickon Mills Foundation is committed to being a trustworthy partner in your charitable giving. We believe that educating our donors about these positive changes—even if it means some donations may come later rather than sooner—is the right thing to do. Your informed decision-making strengthens the relationship we have with you.

Our mission continues regardless of when gifts arrive. What matters most is that you feel confident and informed about your charitable giving decisions.

Questions?

If you have questions about WMF's 501(c)(3) status, how to make a donation, or general information about the new tax law, please don't hesitate to contact our Treasurer, Griffin Affel at (215) 260-9900 or TreasurerWissMills@gmail.com . For specific questions about your personal tax situation, we encourage you to speak with your tax professional.

Standard Disclaimer: The information provided here is for general educational purposes only and should not be construed as personal tax advice. Tax laws are complex and individual circumstances vary significantly. We strongly urge all donors to consult with qualified tax professionals regarding their specific situations.